Coupon-cutter



J. ZEALAND. COUPON CUTTER.

APPLICATION FILED JULY 3,1919.

1,365,070, Patented Jam-11, 1921.

nu: iris- I N V EN TOR. 56095 Jcmfl/m ZMM/w A TTORNEY UNITED STATESJONATHAN zEeLAiTn, or CHICAGO, ILLINOIS.

COUPON-CUTTER.

Application filed July 3, 1919.

T 0 all whom it may concern:

Be it known that I, JONATHAN ZEALAND, a citizen of the United States,residing at Chicago, county of Cook, and State of Illinois, haveinvented certain new and useful Improvements in Coupon-Cutters, of whichthe following is a specification.

This invention relates to improvements in coupon cutters.

\Vith the wide distribution of Government bonds in the last few years,accompanied by the practice of many banks to attend to the detachment ofthe coupons from, and to the collection of the interest on the bonds fortheir customers, it has be come necessary to cut an exceedingly largenumber of coupons of exactly the same dimensions at fixed dates fromtheir bond sheets.

It is an object of the present invention to provide a device whereby,through a single operation, a large number of coupons of similardimensions may be neatly cut and deposited in a receptacle from whichthey can be removed at desired intervals.

It is furthermore an object of the invention to provide a machine inwhich the support for the coupon sheets may be suitably adjusted toeflect the separation of the coupons uniformly at the narrow interspacesbetween adjacent coupons so as to prevent cutting or tearing of theremaining portions of the sheet.

With these and other objects in view, the following specificationdescribes the invention in detail with reference to the accompanyingdrawing, wherein- Figure 1 is a side elevation of the device;

Fig. 2 is a horizontal section on line 22 of Fig. 1, the knife carrierbeing shown removed;

Fig. 3 is a perspective view of the knife carrier on a larger scale, and

Fig. 4 is a bottom plan View of the device on a small scale.

The main portion of the device consists of a frame, including a base 1and a yoke 2; the base having a top plate 3 with depending flanges 4:;whereby underneath the plate 3 a hollow space is provided. The frontportion of the base is slightly enlarged sidewise and also raised, asindicated at 5, and the front flange 4 is cut out to permit theintroduction and withdrawal of a drawer 6 sliding in the space confinedby the enlarged portion 5 of the base. The sliding Specification ofLetters Patent.

Patented Jan. 11, 1921.

Serial No. 308,485.

movement of the drawer 6 is guided by pins 7 which pass through theflange 4 into slots 8 of the drawer and determine through their impactagainst the end points of the slot 8 the terminal positions of thedrawer. The yoke 2 is preferably made integral with the base, 1 and hassubstantially rectangular cross-section with at portion overhanging thefront part of the base 1 similar to the construction known from punchpresses, stamp presses, and the like. The overhanging portion of theyoke has a vertical bore 9 to receive the stem 10 of a knife carrier 11,which carrier is of sub stantially rectangular cross-section andslightly smaller than the area of the coupons to be cut. The bore 9communicates at its top with a notch 12 extending lengthwise through theyoke, and the bore 9 furthermore communicates with an extension 13 belowthe notch 12 adjacent to a vertical socket portion 14- in the yoke. p I

The stem 10 of the knife carrier has near its upper end a flattenedportion 15, from which a bore 16 extends partly through the carrier.This bore serves for the reception of a pin 17 which forms thecontinuation of a presser finger 18 projecting horizontally from thestem 10 into the extension 13 of the bore 9. A spring 19 is seated inthesocket 14 and presses against the under surface of the finger 18. A pin20, passing transversely through the slot 12, serves for pivotallysupporting a cam 21, which is preferably integral with an operatinghandle 22, and which upon oscillation of the handle depresses the finger18, thereby also forcing the stem 10 of the knife cutter downwardly.Upon release of the handle 22 it will be turned to the position shown infull lines by the spring 19, and this return of the spring 19 toexpanded position also will move the knife carrier upwardly to thepositionshown in Fig. 1.

The forward portion of the base 1 is slightly raised and provided witharectangular opening 23 of approximately the size of the coupons whichare to be cut. This opening is framed on three sides by adjustablemembers 24 and 25, which are secured to the top surface of the base 1 bymeans of fastening screws 26 or the like. The height of these framemembers increases slightly from their outer edge toward the inner edgethereof, the inner edge overlying the edge of the opening 23 in thebase. An adjustment of the frame members at and 25 in direction towardthe opening or away from the same may be effected, as the fasteningscrews 26 securing these frame members to the base, project throughslots 27 in the frame members. An exact adjustment of each of theseframe members independently of the others is thereby rendered possible,and through the cooperation of these frame members with the knives aneat cut may be made when the knife carrier is lowered.

The sides of the knife carrier 11 support cutting blades 28 and 29,which are secured to the carrier by means of fastening screws 30. Thethickness of these blades increases from the top toward the cutting edgethere of, permitting thereby the proper grinding and regrinding of thisoperative edge.

As the coupon sheets of the bonds present at least one edge on which acutting operation is not necessary, three of these knives are only shownand an adjustment of three of the frame members for the edges of theopening 28 in the base is only contemplated.

In the operation of the device a series of coupon sheets of bonds areplaced on top of the base in such position that the coupons to beseparated register approximately with the opening 23. It is advisable toadjust first the frame members 24%, 25 to cooperate with the knives 2-8,29 and it will be noted that each of the frame members can be adj ustedindependently of the others. The handle is then depressed to cut thebonds attached to the sheet on three edges, two edges or one edge onlyand the severed coupons will drop into the receptacle 6. After thisoperation has been repeated a number of times, the receptacle may bewithdrawn and the coupons removed.

I claim:

1. In a device of the character described,

the combination of a base having a rectangular opening, frame membersadjustably secured on the base adjacent the opening, an upwardly andforwardly extending yoked portion secured to the base having a verticalbore therein in alinement with the opening in the base, a knife carrierreciprocally mounted within the vertical bore of the yoke, a second boreextending into the yoke from the upper surface thereof and arranged inparallel relation with the first mentioned bore, a member reciprocallymounted within the second bore and operatively associated with the knifecarrier and means for actuating the reciprocal member. V

2. In a device of the character described, the combination of a baseframe having a rectangular opening, an upwardly and forwardly extendingyoke secured to the base and having a vertical bore therein, a secondbore extending into said yoke from the upper surface thereof and inparallel relation with the first mentioned bore, a knife carrierreciprocally mounted within the first mentioned bore, memberreciprocally mounted within the second bore and operatively connectedwith the knife carrier, an operating handle pivotally mounted on theupper portion of the yoke and adapted to actuate the knife carrierthrough the reciprocable member when said handle is moved in onedirection, and means for returning the knife and the member to normalposition when the handle is moved in the opposite direction.

In testimony whereof I affix my signature in the presence of twowitnesses.

JONATHAN ZEALAND. Witnesses:

CHARLES W. Mrn'rz, DANIEL A. BRENNAN.

